UMB Bank Provides $201.9M Construction Loan For Mixed-Use Property In Cypress Hills
1495 Herkimer Street, Brooklyn, New York 11233, United States
$201,900,000
$1,835/SF
Building Size
110,000 SF
Asset Type
Mixed-use
Closing
Jul 6, 2022
About this deal
AI
The mixed-use property located at 1495 Herkimer Street in Cypress Hills has been involved in a recent closed transaction. The property spans an area of approximately 110,000 square feet, making it an attractive asset in the market.
Summary of Transaction Details:
- Property Type: Mixed-use
- Transaction Amount: $201,900,000
- Address: 1495 Herkimer Street
- Market: Cypress Hills
- Lender: UMB Bank
- Landlord: Leser Group
UMB Bank provided a construction loan of $201,900,000 for this property transaction. The Leser Group serves as the landlord for the property.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93